Here's one of the biggest misconceptions we like to tackle when it comes to high net worth lead generation.
People with a lot of wealth are too busy to be on the internet, surely? Someone who’s worked incredibly hard to amass a fortune has better things to be doing than sit around on Facebook?
If any of the above was true, Dragons’ Den would be empty every week. High net worth leads are as active – possibly even more-so – than your average internet user. Especially younger, millennial success stories; they communicate through social media and use search engines to discover new opportunities, too.
The biggest problem companies have when they want to instil high net worth marketing lead generation into their structure is that they generalise too much and like to assume their market’s movements.
A bespoke inbound marketing campaign is the best way possible for companies to build personas; accurate representations of the markets they’d like to enter and attract that can be researched and refined to accurately target wealthy leads and investors wherever they spend their time online. Going as far as identifying the psychology of your potential audience can reap huge rewards when it comes to attracting more profitable leads.
If you’re looking into high net worth lead generation, then it’s fair to assume you have some budget to put into biddable media channels such as social media and search. Even if you only have a small budget, by properly identifying and researching the high net worth leads you want to reach, you stand a better chance of attracting small amounts of that traffic to convert to further build on and invest in your campaign over time.
We can’t overestimate how important that persona framework is when it comes to high net worth lead generation campaigns. Correctly identify your market and its trends and you can even go as far as getting in front of that audience across other networks with cross retargeting, especially as you better refine those personas and learn more about your audience as the days, weeks and months go by.
Though biddable media is a hugely effective tactic when it comes to generating traffic and encouraging those leads to convert, there is still a lot that needs to be considered that you may only learn if you partner with an experienced inbound marketing agency.
For instance, are you up to date with the copyright laws surrounding biddable social media campaigns and the upcoming data collection changes being implemented by the EU? If not your company could be privy to enormous fines if you don’t have transparent data collection policies in place.
It’s something you need to consider before entering into a high net worth lead generation campaign too; it’s the kind of audience whose data you don’t want to mishandle if you want to enhance your reputation.
Entering into a high net worth lead generation campaign doesn’t specifically mean businesses are targeting potential leads with vast wealth. That could be part of it, but a well-researched inbound marketing campaign also allows businesses to better target potential leads in niche sectors in ingenious new ways.
Universities across the world, for instance, typically compete against each other every year in order to attract the best and brightest students to their courses. Competition is fierce, and numerous forward-thinking universities are using biddable media – especially creative social marketing campaigns – to get in front of social-savvy students who consistently use the internet to research and discover more of the opportunities that each institution can offer.
Again, perhaps not the most obvious return currency for a high net worth lead generation campaign, but one that shows how critical it is to research an audience and create personas in exceptional ways to push campaigns on the right channels to attract high-quality leads from certain age ranges.
What about more mainstream industries? The legal profession for instance can pay upward of £80 per lead every time somebody clicks on a biddable keyword related to ‘injury lawyers’. That’s per click by the way; if the searcher chooses to leave the page after a few seconds that’s £80 gone without any way for the legal firm to follow up that initial interest.
Legal keywords are some of the most expensive out there when it comes to high net worth marketing lead generation. Those costs don’t have to be so astronomical though if solicitors are clever with their overall inbound efforts and, again, properly explore and research their personas.
Those leads are expensive because the pay outs for a personal injury win can be enormous. Those costs per lead can be reduced though with a creative organic campaign complemented by shrewd keyword targeting in niche areas that your competitors have failed to explore.
Biddable media can also be used by the property sector to sell more homes and encourage listings. It can also be used by property companies and developers looking to fill flats and other living spaces for investment purposes.
What if you’re looking to target older leads, though? Coming back full circle to our opening, surely older high net worth investors don’t use the internet that much, and it’d be far more effective reaching out to them through other means?
Not necessarily. Older generations are investing in new technology to connect themselves to the internet to keep in touch with friends and family and discover new potential investment opportunities to top up their pension pots. Social media data shows that there is a large audience of older demographics signed up to networks like Facebook that can be targeted through biddable campaigns.
Similarly, there is information out there which shows which devices the ‘grey pound’ are most fond of when it comes to using the internet. Researching where older markets spend their time and targeting them across the right platforms and devices can help attract older high net worth leads looking for new investment opportunities and ways to make their savings work for them.